tv Cavuto Coast to Coast FOX Business September 27, 2017 12:00pm-2:00pm EDT
diluted is it. we have some details. i think the market wants something. if it gets nothing, it could be nasty. liz: will republicans rally around to stop foot-dragging, whether he may need democrats. stuart: he may. that is the last word. neil, it is yours. neil: stuart, i'm worried for you. stuart: uh-oh. neil: the tax thing i read it in the voice and tone. maybe fact that upperring this will have a different rate. maybe the fact you reside in new jersey, the guy leading polls for governor is a democrat, want as surtax on witch guys like you. that would more than wipe out whatever gains you would get with federal income relief. maybe the fact you can't likely write off those state and local taxes. so i can understand you're reconsidering idea of becoming a american citizen. stuart: i'm not. neil: i want you to know, it is going to be all right. i have to say that. as a friend i was worried about
you. stuart: no you weren't. no, you weren't. you were extending my show by 49 seconds. neil: no. i was worried for you as i was relieved for women in saudi arabia who can now drive but you know they -- you know, conflicted me. but i want you to be well. stuart: you've been working on this relationship we have for the last three or four hours, haven't you? neil: i have been worried. i've been watching. hey this, is not my buddy. this is not the guy i knows. whose tax cut was already tucked away and saved. not spent, mind you. just saved. stuart: never spent. never spent. well-said, young man. >> thank you very much, stuart varney. we'll pick up the baton. as stuart indicated there are big question marks going forward. not only about the tax cut plan, but who benefits, who doesn't, what to make of so-called fourth rate could be in effect here. the fact that businesses, while they will see appreciable cut in overall rate if the president
has his way to 20%, from established 35%, keep in mind the prevailing average rate corporations pay in this country works it to a little under 27%. that is the average of s&p 500 companies. the gap between that and 20%, rate, maybe, it is not quite as robust as you think. it is about what is included, ultimately not included. the president will make his pitch for this with the indiana fairground, they ben efficient the appreciably from big tax cuts. one of the few states done so, seeing bang for the buck. we'll explore that a little more, first to blake burman, how the white house rolls out the red carpet for just this sort of thing. blake? reporter: hi, neil. we hear the president will talk about the rates at this event in indiana later today. on the individual side big changes as they're collapsing number of brackets down to seven, to three. bottom end 12, 25 middle and top end 35. as you talk about, there is
possibility within this framework that maybe for the upper echelon, wealthiest of americans that number could creep up a little higher than 35, somewhere below the 39.6 rate. calling for the tax reform framework, elimination of the death tax. the elimination of amt, many other deductions as well. on the corporate side, it calls for a corporate rate of 20%. and a small business rate of up to 25%. neil, the white house feels very good where they stand with this they think this is winner this, plan. they think it could possibly get democratic support, what they're seeking. there are skeptics. that includes top member on senate finance committee orrin hatch, who acknowledged at least this will be a tough lift politically. >> so i would like to bring those rates down for basically everybody, including businesses as well. it will be tough to do. we're so equally divided that it is almost impossible to do
without some democrat help. i'm hopeful that we can do that. reporter: in the white house the president drawing some red lines. gary cohn saying there are two red lines. quote the president made it very clear that 20% as corporate rate is a red line for him. he is at 20%. i think the president made it very clear there have to be a middle income tax cut. i think those are his two big, bright, red lines. neil, back to you. neil: you know, if the 20% was the big red line, why didn't mr. "art of the deal" start out with 15%, right? you know that rate will only get negotiated up, right? reporter: they're saying this is non-negotiable. president on campaign trail talked about 15%. paul ryan on the hill had 25%. right now the starting point is 20%. mark meadows, freedom caucus, the red line to 20%. at least that group in the
house, that appeases. apparently everything is negotiation with the president but apparently on this one it is not. neil: when the president goes to indiana, so far taking joe donnelly, democratic senator from that state with him, barring any other senate votes that could come up. is that a possible vote for a tax package has scant few democratic supporters or what? reporter: this is the second time he has done such a thing. did the same thing with heidi heitkamp earlier. joe donnelly, one of three democrats initially did not sign a letter to the president three weeks or so, which they laid out what they want to see in the tax reform framework. he is seen as a possibility since he didn't sign on to that. indiana, a state president trump won in 2016. a state produced the vice president. so there is some strong republican ties there. they're using this as their launching point to try to get potentially joe donnelly on their side. neil: thank you very, very much, my friend, blake burman in washington. that will be the battle royale for the remaining, weeks, months
of this year. it will be an uphill battle as orrin hatch was telling maria bartiromo earlier today. a number of politicians have been telling us over the last few days, just it sort out differences and they are ample between republican factions that could take months. that has folks wondering forget tax cuts this year. forget about retroactive tax cuts applying to next year. way too soon to tell. charlie gasparino, political capital reporter rachel bade and economist dan mitchell. rachel, let me begin with you. your thought the people you talk to for the timetable for all of this. assuming they can iron out differences with idea of a fourth possible rate but what are you hearing? >> there is wide june dilllation right now. i have republican sources at gop retreat where paul ryan and mike pence will try to rally usually divided house republican
conference around the bill. folks say they like what they're seeing, hopefully they get it done by the end of the year. reality in the senate, including number one tax writer, they don't think they can get a gop tax bill through the senate with 51 votes. they are talking about to reach out to democrats. the president made it clear that he wants to work out with democrats. that is the fourth income bracket might come in. the president will tell the dems, i will not reduce taxes on the wealthy. if he will say that, they will need that 39.6% to stay there, not decrease to 35. neil: or even 37 38, some other figures. three democrats you want to woo. joe donnelly of indiana, joe manchin, and heidi heitkamp, three senators didn't sign on to the to the letter, don't give a penny of tax relief to the wealthy.
how many of them, of those three, are wooable? >> i'm going to get optimistic on because who are republicans who might vote no? collins, murkowski and mccain. that's three. that brings you back down to 49 from 52. you need one of those democrats to get you to 50. pence can be a tie-breaking vote this is bill, in theory, cutting company tax rate, which even a lot of democrats realize is shooting the u.s. in the foot by being uncompetitive, you have this near doubling of the standard deduction for the middle class it, will be hard for some democrats to vote against that, even though it includes death tax repeal and a few things they don't like. neil: donnelly does have a record, i think, charlie gasparino, supporting tax relief in 2010. >> sure. neil: voted for equivalent there. where does this stand? what are people telling you? >> i've been looking at the markets we're reporting this. we should point out there is not a sophisticated investor i know that the tax cuts are baked into
this market. this is net, if it does happen it is net positive. if this was definitely going to happen, or if markets believe it has strong likelihood to happen, the market was not be down or breaking even. what you have here investor sentiment saying this won't happen. i will say -- neil: they were up a lot this morning. >> when you start seeing -- neil: details. >> details. it is not a detailed plan. here is the thing i mentioned to you this morning, my sources on the hill tell me, okay, so much of the heavy lifting will have to be done in committee. when that, i'm not an expert at the legislative process, but when you start putting this in committee, when people are going to have to deliberate at that sort of granular level, it really grinds us to a halt. i will say one other thing. will the freedom caucus, will conservative republicans agree to a tax increase? which is how, how trump is trying to sell this? neil: on the wealthy? >> are republicans going to look themselves in the mirror and
say, i voted for a tax increase on the wealthy? do people who by the way, pay most of the taxes. neil: what do you think of that? of course it is how it is presented. if the rate stays roughly same, or comes down, offset by limiting deductions state and local income taxes all how it is presented. but in that committee process you know so well, a lot of things can change and get dragged out. now we're well into next year, but what do you hearing? >> the freedom caucus, conservatives on the hill, will not back a tax increase, i can tell you that point-blank. not only them, but gop leadership in the house will not go for something like that either. neil: how do they feel, rachel, how it is presented for the upper income? because they left that open-ended debate. you might have a fourth rate for bargaining chip. what do you think? >> they're leaving wiggle room for keeping top rate where it is now, which would not be an increase, but leaving it where it is for most wealthy americans. even that will be hard for
conservatives to accept but i did talk to some centrist republicans, for instance, tom reed new york, close ally of trump and on the ways and means committee, he said not a big deal. this is about middle income americans. as long as nobody gets taxes increased and folks in the lower middle income brackets are getting reduction he thinks they can do something. i think this is tough sell for conservative. >> i can't imagine conservative go for tax increase. >> no. >> what are the deductions they want to eliminate? by the way you notice how, i don't think the state and local tax deduction, ending it, the state and local tax deduction is in the draft right now. that will be hammered out in committee. neil: i thought it was? >> i think what they hear we want to eliminate it. i don't know if it specifically states. neil: do you know, rachel? i think this was one thing included if there or no? >> the state and local? they're looking to get rid of it. use it as a pay-for. >> is it the outline they put out? i don't think. that is the funny thing.
neil: we'll get confirmation. >> they're talking about it, talking about it amongst themselves at the gop retreat. that is something they're looking at. neil: mortgage, charitable thing, deductions they want to save for rich and not so rich aligning. you're worried when they get into the weeds of this thing it will get dicey. >> it will get ugly. neil, they are allowing rich private equity managers to benefit greatly, steve schwarzman, trump's, runs blackstone, trump's economic advisor to keep the cherished loophole, carried interest, yet some family of four in long island will get screwed on the state and local tax deduction loophole which is eliminated. mind-boggling they allowed carried interest but screw some guy in long island. i don't know how they sell that to peter king. neil: dan mitchell, if you had to play this out, let's say they're able to just get this approved in narrowest of
margins, only question is when, if it is next year event, how do republicans feel about that versus this year event? >> they obviously want to do it this year but here is the real challenge. you're taking a big tax cut, and under the budget rules, in terms of what you can make permanent, you're trying to fit it into a relatively small, like lineman into pee-wee herman's clothes or something like that. what will be permanent? it will be corporate tax rate reduction. i'm guessing state or local tax rate reduction to pay for that. corporate tax rate of 20%. state and local deduction which encourages bad policy in new york and california, get rid of death tax, those three things by themselves would be a big game-changer. republicans no one thing above all else, they have screwed up everything else. if they can't cut taxes which is
only reason god put them on earth, if they can't cut taxes they might as well just resign ahead of the 2018 election. that will give them a lot of pressure. >> if you get rid of state and local tax deduction and keep the carried interest deduction, right for rich, fat cat private equity guys -- neil: calorically challenged. >> calorically challenged rich guys, you screw over a family in long island, how do you get peter king to agree to that? this ain't happening. it will be interesting debate on these deductions. if they think they're getting it done six weeks, good luck. neil: rachel, real quickly, there are about 60 republicans who come from such districts directly affected, california, new york, illinois, i think new jersey. that would be directly affected by that provision. that is assuming they all vote against this, because they find that the losing that deduction costs their constituents more than the net tax cut they will
enjoy. would that kill it? if they all voted against it, which i can't envision, but, what are your thoughts on that? >> maybe if they all jumped together they would be brave enough do that. call peter king right now, see what he says. no, i think that there is a lot of pressure right now to get this done and i think that although there are a couple dozen republicans from these districts who have the state and local tax deduction and who really benefit from that, if they are republicans, leadership will be talking to them, probably already has been talking to them, selling them on other parts of this bill. they don't want to be ones that brock this at least in the house. i do know a lot of house moderates, they do not want the weight of president coming down on them especially after repeal fell through where republicans are scrambling right now. neil: logic would tell you not to be suicidal but past history proves very suicidal. thank you all to your points
here. cost of this tax, if you look at a cost, many write me you can't cost out tax cuts, play along with me here. five trillion over 10 years, already in the senate republican blueprint they're calling for 1 1/2 trillion dollars budgeted for tax revenue lost over the next 10 years, they have to come up with $3.5 trillion to address making sure they make that budget figure. where is the 3.5 trillion coming from? you get 1.5 trillion removing state and local tax deductibility. as mr. gasparino pointed out, you also potentially torpedo the deal. that is small part of remaining 2 trillion you have to cut. how do you do that? after this. what did we do before phones?
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neil: as you know by now, roy moore won senate race in alabama. media branded it a big loss for donald trump because he supported establishment senator there. what does this mean going forward? let's get the read from ron meyer, red alert. alabamaians as much as they love donald trump they hate mitch mcconnell more. that won out. that is how they felt about that part of establishment,
mitch mcconnell backing luther strange, republican senator than any reflection on donald trump. i don't know if that is true, but what do you think? >> i don't think the democrat attack will last any longer than 24 hours on this because it is not resonating. everybody knows, especially in alabama, they do support donald trump. if anything this is message from donald trump supporters to donald trump, saying we want you to listen to the conservative side in your administration, not the establishment side. we want you to listen to the freedom caucus, not paul ryan and mitch mcconnell that is the message those people were trying to send. they don't want luther strange that will be blindly loyal. they want somebody like roy moore who will be independently conservative and push the narrative. neil: even if they're blindly loyal to the president they seem to like? >> yes. neil: conundrum to put these characters in that kind of box, right? >> to you and me that is what it seems like. remember these people are conservatives, when they see donald trump making a deal with
nancy pelosi and chuck schumer and listening to paul ryan on issues, failing to pass obamacare repeal they want to push donald trump back where he ran. not that they don't support him. they want him to be him this is alabama a conservative state. conservative states will particularly pick conservative candidates in primaries. this is a message to donald trump to say get back to the conservatism. neil: ron, i can interpret the results, one of the reasons i think, i could be wrong, corker bowed out running re-election in tennessee, maybe he envisioned a divisive battle on the right. the president himself teased such a scenario. i wonder if it emboldens such groups given success of judge moore, put up far-right challengers to even right incumbents? >> yeah. neil: where is this going for next year? >> you see steve bannon going down there. a lot of folks going down there to stir this up. no doubt they will have another tea party primary wing. instead of tea party, trump
nationalism wing pushings trying to get these primaries going. it is going to be an interesting debate because i think you have part of the people watching trump saying we want him to try to get things done, to make deals with democrats, to try to get an 80-20 compromise done to see if that works. we have incredible amount of divisiveness happening in the country. folks like steve bannon and others will only try to widen the divide because they think it is in the political interest of donald trump. some people within the trump administration saying that might not be the best thing for trump's agenda. we'll see it play out in 2018. we could see interesting primary challenges that could flip things in d.c. neil: in most case, educate me here, ron, candidate that is primaried, whether it tests the candidate's resolve or not, doesn't he or she go on to lose in the general election because he or she is badly bloodied.
>> it matters where the state matters or district matters. in northern virginia, they might hate trump but they vote for republican, right? you go someplace in the middle of america, they wouldn't go for a establishment republican, but donald trump. places like wisconsin, missouri, indiana. the idea we can broad brush this i don't think is very wide. alabama is perfect example. conservative state picked a conservative person to represent them to push the country and president more conservative. every race will be different. we have to pay attention to the narratives specifically. neil: ron, thank you very, very much. >> thank you, neil. neil: to that point president goes to indiana, safe republican state, has a great deal of success. governor of mike pence was governor there, running things with big ol' tax cut. doesn't happen in a lot of state has tried this stuff but certainly happened there, which is no accident for the president to choose that state to make his pitch for all 50 states to do the same thing. after this.
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neil: this might be the first case of dealing with viewer rage over all these political statements at football games. directv offering refund to those that just had it. they don't want to watch it. they don't want to pay for with directv nfl weekend passes. it is first of many other companies doing the same to sort of you know, cut off a lot of the furry that they're getting from fans and subscribers. gop strategist gianno caldwell and democratic strategist, jessica. jessica, what do you think of that? what companies may do down the road whether their customers get peeved by this. >> this is smart for them to do
this. long term they were come me dating to different beliefs here. they sat there, heard them out and offered them a refund for it. that is good for directv. this will be, as you mentioned a in your opener, a longer term problem with different people that advertise during nfl games, to have to pick a side, choose a side. we'll know upcoming weekend if this fervor maintains and what the teams do. i think it's a longer term issue but directv is spot on. neil: yeah. gianno, i was thinking no interest in professional football, i see a chance to get money back from directv, i might son on to this. what do you make of it yourself? >> this is very messy situation, especially messy for sponsors and corporations that believe they have to take a stand on this issue because president trump unfortunately made it much bigger than what it should have been. i think the president lost the fact he is not a celebrity
anymore. he is a celebrity but he is not a celebrity without the responsibility of protecting the public and making sure he doesn't insert the united states in battles that it really shouldn't be in. in this particular case, this has financial repercussions for directv and perhaps other sponsors as well, with nfl with people turning off the tvs because of what players are doing and it's a very messy situation for anyone to be in, especially for the president of the united states to insert himself. neil: jessica, my immediate reaction, i thought mr. president, you have a big tax cut announcement, a lot of things going on, whatever your views, this subject does not appear to be the time for you to creating a wedge issue. >> humanitarian disaster in puerto rico which got no attention. neil: by the way, that, that is a bit of a false herring there. >> didn't tweet about. neil: berating president on that is obsessed with this story but i digress. >> that's true.
that's true. >> the president obviously as gianno pointed out, i like the new improved gianno. >> this is the gee auno always known. >> congratulations on your -- neil: on both sides for the long, long time. >> amazing skillset. what i would say, to your point about this, that it going on, turning off your sets and people are burning their tickets now, their season tickets, we saw a lot of that on the internet, that the president has the opportunity to be unifier, not a divider. he obviously not taken that thus far. there is time to make up for that, especially with a tax plan coming out they are arguing benefiting all americans. that is another segment t doesn't do that. >> i think you're counting your tax cut as we speak, young lady. i'm kidding. i'm kidding. >> maybe when i'm little older get paid a little more but right now i'm not happy. >> you do extremely well. neil: do you think, gianno, the
president, there is method, whether you call it madness or calculation, he knows by and large americans are getting fed up with politicization or games or reward shows. reflected in the ratings. there is bump at beginning of these games for people curious to see how it will go with the kneeling or not kneeling but he has the public on his side here? what do you think of that? >> i think in terms of republicans most would agree. i disagree with football players doing this because i have folks that serve in the military in my family right now, i believe we should honor the flag at every chance. i also believe -- neil: they say they're honoring doing what they're doing. you disagree? >> yeah. >> the whole concept of this original protest about oppression and racism. i will be honest with you, if nfl players were serious about this, they would go on capitol hill like i was yesterday, with 2020 leaders for america, lobby
for criminal justice reform. if you want to see changes in the government system, you would do those kind of things. that being the case, just become anti-trump protest. so every sunday we're seeing resistance rally in the nfl i'm being honest about that. >> you're being honest you're not telling whole story. our professional sports community are active philanthropists. >> philanthropy is great. neil: jessica would you feel the same way if someone knelt to pray? >> that is interesting one, with he talked about that with the seattle coach wanted to do it on the field, whether that was coercion. neil: you have a problem with that? you don't have a problem with this. >> what colin kaepernick was doing, i actually didn't remember this -- neil: you're not answering my question. >> i have a problem with prayer in school which that counts as. >> no, i don't. neil: kneeling down to express a beef about your national anthem you're okay with it. >> i am okay. first amendment -- neil: you're a riddle wrapped in
a conundrum. i have no idea what that means. thank you very much. that is the extent of my knowledge base on this particular issue. meantime if you have a problem with this, you can tweet about it. a lot of you do send very nasty tweets. now you have twice as much room so say twice as many nasty things. i will explain after this.
neil: real quickly here, chuck schumer is talking about the tax-cut package that was unveiled, kind of unveiled today. remember he laid a red line out here, not a penny of benefits to the well to do. let's listen in a bit. >> -- no real argument, they will take the new money, put it into creating jobs. it may be different for small businesses. we're open to tax breaks for small businesses.
but will at least these corporations pay for their massive corporate tax cut by closing egregious corporate loopholes that help multinational corporations avoid paying their fair share of taxes? not in this outline. there is no indication, none at all, that this framework under this framework, that the corporate tax cut will be offset by corporate loophole closures. what about on the individual side? multimillionaires with estates over $11 million, they get a tax break too. by repealing estate tax, goes only for the very wealthy, republicans are not giving 260, republicans are giving $269 billion to the richest .2 of 1%. the president said he didn't want to give tax breaks to the rich. then he should this afternoon denounce repeal of the estate tax, which goes exclusively to
the rich. when you repeal it. by slashing the top rate, this was an unpleasant surprise, top rate goes down from 39.6, to 35, the very wealthiest of americans get an even bigger tax break. high-end, 1%, they're doing great. god bless them. we're glad they're doing great. they don't need a tax break. middle class people do. so look what this plan does. it gives huge tax cuts to the wealthiest and biggest corporations, socks it to the middle class. eliminating state and local deductibility is a blow to the wallet of millions of middle class taxpayers across the country in states like new york and california, doubling the standard deduction and eliminating the personal deduction will not make up for the loss that middle class people, particularly in the
suburbs, will, will not make up for the loss when you eliminate state and local deductibility. and my, what i say to the president and the republicans, last time you tried to eliminate state and local deductibility and tax reform -- you had to eliminate that. same thing will happen now. lots of republican congressman in states like new york and california, come from districts where the elimination of state and local deductibility hurts their core constituency, even with doubling the standard deduction. so, leader mcconnell and speaker ryan argue -- neil: i will put chuck schumer as maybe on the tax plan. he kind of well-telegraphed this. remember allowances were made to get rid of the estate tax. right now, it is reserved for those estates $5.5 million or more. this plan, republican plan.
eradicates entirely, giveaway to the rich. some top bracket sees reduced to 35%, even though they bandied about possibility of higher rate for level yet to be determined, a fourth bracket for them. who would be ensnared is anyone's guess. deductibility would potentially go away with those who live in high income sales tax states like new york. of course the senator's home state that could see whatever gains you get from a tax cut wiped out by losing that deduction. if the president was hoping by making overtures to chuck schumer and nancy pelosi on that debt ceiling measure that simultaneously provided hurricane relief right after harvey, and that this would lead to votes on this particular measure, that does not appear to be the case. chuck schumer more or less saying not on my watch. we'll keep an eye on that. also keeping an eye on twitter. right now you know the drill, 140 characters or less when you tweet something out. twitter wants to make it 280
characters which i'm told is a huge deal, which you can say in 10 characters. deirdre bolton, "fbn:am" co-host, lauren simonetti. is it a big deal? >> it is a big deal because it is doubling the space you have to say something. twitter crunched numbers and large percentage of users came in at exactly 140 characters which means they were severely editing tweets. neil: can you do following tweets? >> you can do a tweet storm or following tweets. you're going for brevity? neil: aren't they losing a little bit allure? >> that is their identity, separates them from facebook and snapchat. that is the english language users. we are the least efficient. for example, in asia the character limit staying the same, the characters are not taking up as much space. neil: they don't blather on?
>> you could infer that. neil: the president, it will not help him? >> only some users are. you're can go on to see if you're one of those users. neil: how do they decide that? >> it is random. this is just a test. but in my opinion the issue for twitter is what are you, a sight for brevity or a site for real time dissemination and news information? and if it is the latter, does it matter how long the tweets are? neil: you're both tweeters? >> we're journalists. that is a limited amount of people. neil: journalists, you looked at me like, you're not. kind of hurt my feelings there. >> we, we. collectively. >> we tweet. neil: you do. okay. >> president trump, i feel like did twitter huge service by using it so much remember a few years ago there was a big question, oh, twitter can't really survive as it is. not enough people are using it. that question still remains. jack dorsey current ceo, one of the founders. he has been back in the top spot
for two years. i wonder if this is experiment who might buy twitter if they make themselves more attractive. neil: that would make a difference, i will buy twitter, not going to buy twitter only if they go to 280 characters? >> this is experiment. the stock is up a little better than 1 1/2%, up year-to-date. i think president trump has done the company a big favor. neil: very quickly, chuck schumer's remarks on tax cut not a big surprise. what do you think will happen? >> i think democrats continue to be obstructionists, potential fourth tax bracket, where high earners are getting tax bracket. neil: not enough to win them over. >> but will win them over? >> big open question. senator hatch of course telling your team yesterday he thinks it can get done by end of calendar year. we shall see. >> they need a win. time is running out. neil: senator john thune on those remarks because he is next, an inside republican player. the south dakota senator is next.
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push, what we know of it right now, and indiana is good venue for that because indiana cut taxes, a lot goes back to when mike pence was governor, his predecessor as well. they cut taxes growth averaging about, unemployment rate about 3.5%, which is among the nation's lowest for states. the president trying to say what happened there could be incubator for what would happen nationally, if, if, congress approves tax cuts he says would be momentous. to senate gop conference chair, dach senator john thune. good to have you, senator. >> thank you, neil. neil: you heard chuck schumer moments ago saying this is no the what he envisioned or promised there. are benefits going to the wealthy, removing estate tax provision lowering top rate of top rate from 39.6 to 35%. even if they get a decisional rate, means rich getting
disproportionate share of goodies. what do you say to that? >> remember, neil, a wealthy tax payers will lose a lot of deducts as well. president is committed to, the blueprint, five or six pages long, obviously contemplates maintaining progressivity in the code and insuring there is a tax cult for the wealthy this is targeted for middle income tax payers in this country who need a break. they haven't had a pay raise for the past eight years. with the slow growth numbers we've seen, 1 1/2%, in the congressional budget office, projecting 2% next 10 years, that is not good enough. we have to get growth back to three, 3 1/2%. we have to reform the tax code to do that. allow american people keep more what they earn, middle income taxpayers and that businesses are competitive in the global marketplace so we don't hemorrhage jobs and profits to other parts of the world. neil: given the democrat
reaction, do you think the president wasted time making oaftures to the senator and nancy pelosi? when this row proposal came out, at least in chuck schumer's case slapped it down? >> chuck schumer's response is predictable this is well-worn line. anytime you talk about reducing federal revenue to the government, the democrats say it is tax cuts for the rich. it is anything but that. it is raising wages, and giving middle income americans a tax break. i'm not at all surprised that the democrats are having this reaction. that is totally predictable. that is what schumer is going to say. the president's efforts to reach out to democrats have been more democrats likely to vote for this. neil: who are they? the way i see it, sir, i know joe donnelly, democrat from indiana, your colleague will join the president we're told of indiana there, maybe senator heidi heitkamp of north dakota, possibly senator joe manchin,
west virginia, three democrats who did not sign the letter, saying not one penny of benefits for the well-to-do? i see potentially all three. what about you? >> i agree. i think those are three most likely candidates because they didn't sign the letter but i also think there may be a slightly larger universe of people. i can think of missouri, montana states will benefit from this. i think it will be very hard for senators who represent those states -- neil: what about in your own party, senator? john mccain comes to mind, rand paul. >> right. neil: lisa murkowski, some of the ones resistant to some efforts for example, on health care? >> i will tell you, neil, if we get democrats only way to prove if we get enough republicans to pass it. we have to make the argument to republicans that we deliver 50 votes necessary to get it over the finish line, then you get democrats piling on. i think has got to be an exercise where we get our members and in some of those who weren't with us on health care,
on tax reform. we've got to make the argument what this will do to create economic growth and jobs in our economy. that is a message that resonates across the country. hopefully with all of our republican members. neil: do you think this will take months to sort out? >> well i think it's, i think we have short time frame which to do this. we have a schedule. obviously we have to mark up a budget resolution that enables committees to go to work, finance, ways and means but i know speaker ryan on the house side have the schedule. he wants to keep his members on. we have to stay on schedule in the senate before we get this done by end of the year. that is the goal. i think we can meet it. it will take extraordinary amount of work. a lot of work is already done. we've been meeting for months on this i think it is reasonable. neil: i'm sorry sir, you don't think it is next year? you think this could be wrapped up by end of the year? do you think it would be retroactive beginning of this year? >> well i, most, most tax
changes will be proprospective. tax changes will have to have transition rule but i think the goal, i think it's a realistic one, given amount of work already done, house move first, senate move second, get something to the president before the end of the year. neil: senator, thank you very much. senator thune. >> thanks, neil. the freedom caucus announced it supports the tax reform blueprint. marked most, the guy that runs the caucus, will be my guest "your world," 4:00 p.m. eastern time as will house ways and means committee boss kevin brady putting this all together. they feel they have got something. they're running with it, and confident, chuck schumer notwithstanding that they will win with it. more after this.
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it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. neil: just talking about this whole tax thing. now officially supporting the framework laid out earlier today by the president. charles schumer says that democrats do not see it as some of the provisions include getting rid of the death tax study says is largely a benefit to very rich people in the fact the top we will go down from 3926 to 35%. republicans with deductions they go away and the like and possibly a fourth rate won't benefit. then there is the issue of the vice president of the united states at the republican lawmakers are sort of a mini retreat offside a little later
today about how that is sold and how they are going to be wooed. adam shapira with the latest on that. reporter: take a mini lp at one of the issues that came out during the retreat is the issue of repealing the deduction for state and local taxes. this is a big issue on the heel because people in states like new york, california, lee democratic states are going to lose those tax deductions for tax reform becoming law should it become law. there are republican representatives who have come out and we've confirmed with them today they are still opposed to the repeal deductions for state and local taxes. those three so far we've gone on record our claudia tenney, john faso and dan donovan of new york. plenty of others, though, republicans opposed to this portion of tax reform. claudia tenney put it this way same removing this provision will strip middle and low income new yorkers and their only real tax relief. i will fight alongside my
colleagues in europe to ensure this vitally important mechanism is in the final bill. vegas is the only place where the house always wins. the house can pass taxer farm legislation, the bills often go to the senate where they die. here's what ted cruz said about what was coming. >> we are not close to the passing. it will take at least a couple months to hatchet out. i believe we will get it done. but it's going to take some time. >> again, one key issue is listened to the language of mitch mcconnell if he says tax reform this congress, that's not december 31st. that is next year. back to you. dreams are very important distinction. glad you emphasize that. thank you very, very much. president trump going to the fairgrounds to do just that is a state he won convincingly, winning by almost 20 points.
maybe a sign something was going to change election night or at least go against the consensus that he had no chance of winning at all. connell mcshane in indianapolis at the rate of what's to be expected. what are you hearing? reporter: it's interesting to hear about autumn talking about the vice president because in many ways we hear a lot about mike pence that it's to some extent the man of the moment as we wait for the president of the state fairgrounds to make the speech. we expect president trump to make an argument that the governor pence policies can be taken nationally. an example of how we expect him to say that. take a look taxes in the state of indiana under then governor pence has an individual rate of 3.4% cut it down to three and a quarter%. they cut the business tax year. they used to have an estate tax and the repeal of that. in many ways it sounds somewhat
similar to what we've been talking about and hearing all day with the trump tax plan that we are unveiled here in a couple hours or corporate rate going down 20% is a red line. more goodness tax breaks collapsing the rates down to three, top rated 35%. not an exact replica, but could be used as a model. another thing interesting is who is going to be here today. you may see people lining up to get into a relatively small venue for the president will make the speech. it's invite only. some small business owners with examples of how it would help their everyday lives. there's also a political component and we remember this from the north dakota speech when heidi heitkamp a senator on the democratic side was invited. joe donnelly, democratic senator who represents the state of indiana up for reelection in the state won by the president invited. it's a chance to make the case to someone who might come across the island support this or put political pressure on the party
to support this. all of those things work into an argument and you can see why it's no accident the speeches being made here this afternoon in mike pence home state of indiana. neil: you kind of touched on why mike pence of them with him here. i understand this idea of meeting, but this is the place where it all began. tree in a 100% purity was here recently. he was out here in indiana not too long ago and has this retreat today. it was thought that it wouldn't add much, but when you expect to hear his name and you would think that situation wouldn't be surprising to see him in person but he has the other engagement adam was talking about. you'll hear his name opened and told by the white house today giving specific examples. he did here. we can take the show on the road and make a national story. >> you made the point that joe donnelly will be joining of course. he joined heidi heitkamp in joe manchin, the three democrats
that did not sign a petition that not 1 penny of the tax break the rich. you would argue at least one of them, maybe all three would offset possible republicans opt-out of this. john mccain comes to mind. is that what the president is hoping on? >> i think that's the larger argument. people talking about the fact math ways they need three to get to 60. they are talking about getting the 50 and you are right. if recent history is any guide it's not what we're talking about with health care. you you see all these issues come up and there's one or two, mccain and cruz and others on the health care side. warner to go away. maybe you can replace them. if you lose two or three, maybe you get those back. that could be an argument made and donnelly would be one of those guys. across the aisle anyways. neil: thank you very much.
i miss talking about it. a lot more. [inaudible] in the meantime, former cbo director. we should remind you we are expecting to hear from the president shortly before he heads off on all of this. the chuck schumer reaction almost made me think the president waste his time making overtures to democrats when he got this response. what did you think? >> i think it's what the president's time to reach out to democrats like mr. donnelly who are in states that reflect the values of tax reform. it might be on the republican side. it's a very sensible thing to do. i don't think you should be surprised by the reaction of senator schumer. democrats by and large have given up on tax reform for a number of years now. interested in argument is a slower rate than broader-based
and haven't been reported for some time. neil: i guess the reason it is being made about other democrat that they don't benefit as much. the top rate is still coming down even though republicans talk about the offset of the wines and there could be higher, a fourth rate to come. what you think of that issue of the rich and whether they get a lot out of this, not a lot out of this. what do you think? >> the most important thing is what is not in the specifics. the tax rates, deductions, things like that. it's the commitment of the frame or to a environment for business taxation and to make sure our largest companies no longer build factories overseas. they invest in america come innovate in america, higher here, raise wages here, which is the majority that have this huge
impact on job creation wages. that's where they'll get the big lift. if we get an economy that starts to grow again. drain to let me ask about the 5 trillion in tax cuts that are currently built into this plan that's been cooked up over 10 years. if i'm wrong, feel free to correct me. in the senate plan, they've allowed for 1.5 trillion in tax revenue lost over the next decade. i guess static accounting, 3.5 trillion to have to address elsewhere to pay for this if you're the mindset you pay for tax cuts. what you think of that? >> i think we have a lot of work yet to do. the framework is an important step. it's not a tax reform. they will follow regular order. he will pass budget resolutions in the house and senate, did a final agreement. they will have the ways and means tax, come to an agreement
coming to a final tax bill. that's a lot of work and it needs to be done. a lot of loopholes that promise to close at a lot of deductions to eliminate. that's the bulk of paying for the tax reduction you see today in some of it will be better economic growth. in its format is a progrowth tax reform. a trillion and a half is a sensible number. we will see what they do with the rest. now the problem of the tax writing committees and you can be sure there will be a lot of energy focused on those numbers. neil: to the left of your screen, the president of the united states arriving at jb sanders taking off in air force one for indiana where he's going to make his opening pitch to sell tax cuts. they can work nationally, just given the chance. also some remarks he made just a few moments ago before leaving the white house. one of the things the president
says that this will really boost economic activity. forget 3%. he's been telling a lot of folks a lot more than that. obviously that could go a long way paid for this sort of turing, bringing revenues then. are you in the camp that it does? can you hear me? we did lose him. i apologize for that. again, that has been part i mentioned the doubt, but the idea the president is of the view that we could easily see five or 6% growth of historic circulates washington that the president was meeting in india who was bemoaning 7% or 8% and if i hear one more leader that we would just follow me for a doughnut. enough that the president says lead to lower taxes now to get something close to that growth or nothing happens. nothing at all. more after this.
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train to the president will be taken out very shortly to settle the tax cut any none failed or at least mostly unveiled. he spoke a short time ago about what he thinks. >> we have a man is going to be a great senator. i'm very happy about that. i've never met him. i've never spoke to him. i have to say came a long way from the time i endorsed him. i know what they did, but he worked hard. i just wanted to say on health care, we have one senator he can't vote he cozies in the hospital. he can't vote because he is in the hospital. two other boats are coming and we will have them. the problem is we can't have them by friday because the
reconciliation. we will have to do it in january and february. i feel we have the votes. i'm almost certainly have the votes. with one man in the hospital we don't have them. plus some people want to go through the process to make themselves feel better. >> what you mean by that? [inaudible] -- spending taxpayer money. >> we are talking about health care. i was looking into it and i will look into it and i will address you personally. i'm not happy about it. i am not happy about it. i'm going to look at it. i'm not happy about it and i will let him know it. [inaudible] here's what i'm saying. we are going right now to indiana to introduce a tax plan was the longest tax cut in the
history of our country. we already know some of the numbers. we can't do it now because we have somebody in the hospital and we have great respect for that gentleman, by the way. he's a fantastic man. >> why does it matter? >> he can't come here and go. in other words, he can't come here and vote because he's in the hospital. [inaudible] so we are going to do it in january and february. as you know, we have the votes but we can't go longer than friday. we will get the number of people that want more process. very importantly, i am also
going to meet with john and see if i can get a health care plan. i will negotiate with democrats, but we will vote in january, february or march. [inaudible] i am considering an executive order and that's a tremendous number of people with regards to health care. on top of that we will be signing a very major executive order where people can go up across state lines and by their own health care and that will be probably next week if we finish now, it's going to cover a lot of territory and a lot of people. millions of people. john, go ahead. [inaudible] mitch mcconnell look at health care across the finish line? >> i think we are there now. i'll be honest.
you saw that by lisa. if you look at the other couple of state, we are only one off, maybe two. one of our voters is in the hospital. i can't take them out of the hospital. [inaudible] i do have confidence. i will say we used him in the race and i was very honored, by the way. but they used him in the race. [inaudible] does your plan help the wealthy too much? >> my plan is for the working people and my plan is for the young. [inaudible] >> i don't benefit. very, very strongly as you see,
i think there's very little benefit. [inaudible] if you look at it -- [inaudible] >> i don't see it, but we will talk to you about that at a different time. here's the point. the point is this. health care, we it. we have the vote. because the reconciliation we had to wait till january, february, march, which we will do. in the meantime i will negotiate with democrats to see if we can make it a bipartisan bill. [inaudible] >> very much her bread line.
i want to start at 15 so that we got 20. 15 was so low. but i wanted 15 so we got 20. 20 is my number. i'm not negotiating this number. i'm not going to negotiate. that's the number i wanted to get to. we really had to start their because of the complexity of the numbers. 20 is a perfect number. [inaudible] >> well, we are thinking about that. the governor was very generous yesterday but this statement and so was the mayor, very generous. we have a lot of people and i'm going there to stay you probably have heard. puerto rico is a very difficult
situation. that place is just destroyed. it's not what struck the water, this or that, they really tough situation. i feel so bad. >> first of all, how does the travel ban work in north korea? >> we cannot country's very easily. [inaudible] are you all going? is everyone going? >> is there room? >> he said that in charlottesville. what doesn't: kaepernick have the first amendment?
you look at what's happening with the ratings. the only thing in the nfl as the pregame. everyone wants to see what's going on. you cannot have people disrespecting our flag, our country announce what they're doing. in our opinion -- in my opinion the nfl has to change or it's going to go to. [inaudible] no, not at all. we have to respect our national anthem. and they are not respecting our country. most importantly, the fans agree with me. we have to show respect for our flag. there were plenty of places in
personally during a football game, i think they can find better places, but they cannot do it during the national anthem. i am going to see i am not happy. neil: the president of the united is a short time ago before he boarded marine one on route to air force one. one of the interesting, and that the nfl is in a box and it should be doing something about this whole national anthem. he went back to something that was a red line for him. the 20% corporate rate is his. no deal beyond this rate. in other words not to go any higher than that.
envision a corporate rate of 15% but he is not going to go higher than not. many on the hill attacked about the idea might settle in the low 20s. maybe 25% to make this doable. the president is not moving. the house appropriations committee member in texas democrat congressmen henry cuellar. welcome to you. the tax cut knowing what chuck schumer said a few minutes ago that he thinks they are not what the president said they would be, so he can't support them. where do you stand? >> we want to see tax reform. this is something we all need to work out. democrats and republicans. my only thing is every going to pay for this, are we going to look at the credit card. the other thing we go through the process. will they allow democrats like myself another folks to truly have a bipartisan tax reform.
neil: been added is now the idea that for example was sprinkling some in your party is that they see their tax rate go down to 35% is this idea that you'll be a higher rate or maybe the very rich. i don't know. whatever rate cut the rich enjoy by limiting their deductions. would you be okay with that if that were the case? >> i certainly want to make sure we simplify the number of tax rates we have. again, if we just reduce the deductions because otherwise he can't reduce the 39-point something down to 35 and so you get rid of some of the deductions and then it doesn't work out. i want to make sure the middle class get the assistance and nature the small corporations have a difference of 25% rate
than 20% for the corporations we have. we ought to see the small businesses because those are the ones that create two thirds of the jobs we have across the nation. train to whatever final corporate rate you settle on, they would both be the same for small businesses, large businesses alike. the reason the president delineated the two is that a lot of small corporations pay whatever the prevailing pass-through rate is so there's almost going to be a difference there. you don't think there should be. >> to me the small corporations should be treated the same. you look at two thirds of the jobs created in the united states. it is small business and winning to take care of this subchapter as limited liability companies.
neil: do think a lot of democrats will vote for this one way or another? >> someone take a position that if the tax cut for the rich. some of us but cannot other going to allow us to be participating in the process, really substantive participation number one. number two, what do we do about putting us in a credit card? we are at $20 trillion. i know care if you talk to my dynamic scoring. the thing is are we going to put this on a credit card and keep adding to the deficit? neil: we had a credit card going. you're absolutely right. good seeing you. >> at the pleasure. thank you very much. tree until he was asked about that acknowledging and the fellas in a bit of a box right here. but it's going to do something. recognizing the house speaker of the national anthem and clearly something that recognizes the folks paying the bills is even
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>> we have to respect our national anthem. we have to respect our country and they are not respecting our country. most importantly, the fans agree with me. largely the fans agree. we have to have total respect for national anthem, our flag, our country. there are plenty of places where they are protesting during the football game. i think they can find better places, but they cannot do it during the national anthem. tree into so the president not letting go of the nfl thing. dr. martin luther king jr., author of america return to god, alveda king good to have you. he's not letting go. what you think of that? >> hello come and nail, hello viewers. thank you for joining us.
as i continue to watch this thing play out, we know president trump is draining the swamp. in the process, he is stirring the pot. as he stirs the pot, emotions are boiling. he did use in strong language however i've been called worse on facebook and twitter. you don't want to see it, but i have been. i forgiven everybody. we have to love each other. however, that's a very good point. we can protest peacefully and still respect our flag, national lampoon, even down to the statues and memorial sites are having. when you want to hit somebody or tear up everything. so we really need to step out, take a breather and that's what taking any can help you do. but uncle martin luther king jr. in the 1960s took any. however they were actually praying with respect to our flag, with their anthem. we really have to care about
each other. the things that we want to protest for, i agree. we need justice. racism is alive. we are one blood, not separate races. so we have to take all of that into account, but we still must respect the flag and anthem. you know, many of our soldiers have died and suffered of every ethnic group, every color. so it's not even a racism point because many are speaking out and saying we agree that we need justice. but give us that respect as well. neil: this is now snowballed into some name that started with people protesting during the national anthem is something you've raised in the past they have every right to do. are you worried about the signal is sending. as the president take it to another level by giving the owners take off because you more or less interfered with the work play, started telling them what they should do. what do you think of that?
>> draining the swamp, stirring the pot, but the emotions boiling. we have to remember as the president of the united states, part of his job is to make us come together and have conversations. everyone says i do it another way. but it is causing conversations than i actually have some very good conversation that are not hostile. i listened to reports on both sides and i am hearing very clearly so i am back to the six step, gathering my information, you know, the civil rights movement, gathering information, educating my audience, examining my own heart and having meaningful conversations to resolve the issues. if that's not working, we are doing peaceful protest. at the end of the day we want reconciliation. i believe we are going to get there. we have to have these conversations. the conversation about race and justice and all that is very unconscionable. people say we don't want to talk
about that. we do want to do it. we do want to talk about it, but we do not want to disrespect all the sacrifices that so many have made in the flag in the anthem as part of that respect. we've got to figure out a way to do it. it can be done. neil: i cannot believe people are writing a nasty things, but i guess one or two. dr. alveda king, thank you very much. >> thank you. trade do you know how tense things are with north korea. what if i told you north koreans, long grudge that goes back to ronald reagan? i will explain after this.
he was responding to a question about hhs secretary tom price and his rather active use of private jets to get around. take a look. >> i was looking into it and i will look into it and i will tell you personally am not happy about it. neil: are not happy about it. no indications of what the president plans to do right now. we'll keep an eye on that. the secretary under great deal of pressure trying to justify taking leaps to dozens of private jet flights and some say this was a distraction. others say there is a lot there that want to get to the bottom of it. the president not pleased as well. the president warning devastating consequences for north korea if they don't bring in their missile program and all the tests that are going on causing a nasty back-and-forth. the former national security advisor ronald reagan joins us right now. you know, i was thinking of you
because i was hearkening back to an interesting vignette of the north korean thinking maybe going back to kim jong un's grandfather who is very concerned in october 1983 when the u.s. invaded grenada and the argument was that the kim regime at the time that north korea saw this as a warning sign and that the united states could perceive even a small rat so to eventually train outside on north korea. you've probably heard about this piece. others hearken back to those days. what did you think of it? >> there's no question about it, neil. in a crisis, you are trying to pick up signals on every stakeholder and what they are saying. but you mentioned already about north korea's reaction to the grenada invasion in october of
83, very relevant. it happened again in the george w. bush years when we invaded iraq, gadhafi really got the message, saw that he might be the next country to receive american soldiers and it made a difference. he's terminated his nuclear program. a number of the initiatives that made it feasible to lower tensions and find a way to get along and solve the crisis. neil: but it could also embolden that cases who fear they could suffer the same fate. so that's the insurance policy that would make that very difficult. what do you think? >> well, it would and it is right now. signals being sent by china as well as north korea. i think two weeks ago we saw two very, very clear positions taken
by china that really could be a key to a way forward to reducing tensions and the escalating the crisis. and i am referring to first of all china saying that they favor strongly a denuclearization of the korean peninsula. well, that is an important, not a concession, but a position that is the basis for negotiation. more importantly, soon after that in their dialogue with north korea, they said if you enable us to get to the use of military force, we are out of here. you are on your own, north korea. well, that is a very, very telling position to take. neil: shaming the north koreans. a lot of people say it depends on the languages and ronald reagan wouldn't use that
language of the north korean leader. he did use the empire. he famously told the tell gorbachev, tear down this wall. i can even compare the two. do you get just what sitting in. would ronald reagan keep his own personal language in check here or have things gotten to the point where donald trump is fully justified saying what he said? >> well, president reagan was a very thoughtful, evenhanded person who controlled his rhetoric publicly and otherwise so there are two very different styles between the two presidents. i do think, however, that president reagan would've been looking for the kind of signals that we are receiving from china that he would've had larry eagleburger on an airplane within 24 hours after the two positions taken publicly by china in the last couple of weeks. i think china is obviously the
key to resolving the crisis here. food, money, energy, so forth. so they can make this go away. but it is in our interest in their interest to begin a private negotiation with china. this is a moment. we ought to be seizing the moment. neil: bud mcfarlane, very good catching up on the past two today. ronald reagan all the way to donald trump. thank you. the dow up about 1825 points right now. some optimism reflected in the market. it's not over this tax package. still early. we will have more after this.
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is still on it still looks like it could have been. but are they risking getting ahead of themselves? support in the senate that could be dicey. timing is everything. what do you think? >> it is still the best place to have their money invested. they are eliminating estate taxes. we have a lot of hurdles before we see success. neil: the battle here could be not exactly a fox lawyer to say chuck schumer didn't like this plan. maybe the president found out the hard way he thought they made some overtures to chuck schumer nancy pelosi.
he still might among vulnerable democrats. what you think about? >> i certainly hope it would be easier to get tax reform or tax cuts done. if you think about health care you to do a lot of things. you have to do coverage for everyone, make sure its great care. but tax reform you can chunk data. you can do a tax cut and make that stand alone. cash coming that standalone and then you can simplify. if they can't do any of those things on a standalone basis, we have since areas problems now. >> i wonder that the markets making the assumption these get through because of the later list. is that? what do you think? >> not a later list. your analysis is dead on. when i thought representative cuellar earlier had the most interesting idea about making a small corporations and large corporations breed the same. the best tax relief or tax reform coming out of the democratic party, you can bet nothing will happen.
it seems to me that the market if kind of look and say by the way you set a tepid response today. that's what i think it is. okay, it will remain a pro-business environment, but probably no significant financial changes for earnings. >> 20% corporate rate if the president succeeds at that and he says just because i look at it as 20% doesn't mean i will move an inch further. let's say 20% from at least the rate now. not everyone pays that obviously. is that a big enough difference to change company behavior? to change what they do with the money, et cetera? >> it depends what corporations are talking about. small businesses and s. corporations? train to the big guys right now. >> the big guys will show a better bottom line. that is who you need to get the tax breaks to r. s.
corporations, small businesses. neil: u.k. 25%. >> and because currently pay 39%, 40%. if you lower to 20%, we are going to invest, hire new people. we are going to hand out larger bonuses and that will put more liquidity in the market, more money and our employees hands, more money and new employees can. i'm not what this is. taxes to me are like bad cholesterol to the heart. it clogs up the system. they've got to go when to the areas that are going to free up the most amount of money and not a small businesses, s. corporations. i am not a fan of the estate tax, but to be honest, maybe you need to look at the estate tax to repurpose some of that money. neil: is it your sense then that this is going to have the business rates alone, this talk
about a fourth level to make sure the very rich, but that tax will be enough to give the economy the listed names. >> yeah, if you think about where we've been with the two plus%, to get 3% to 4% very meaningful in terms of growth. to have small businesses free of the capital to be able to make more hires and grow into capital investments, to have big companies benefit because consumers have more dollars in their pocket, that all has a growth effect. we know you can't tax the way to prosperity so you have to look in the other direction. just to move into the 3% to 4% range is something that can be done. neil: we are just learning right now that major league a spot owners unanimously approved deter jeter for the miami marlins. he's among a consortium looking to buy the team. your thoughts on that. >> i think it's great. obviously you've got a new owner
and major league this fall that is very passionate, knows how to be successful and i think is going to bring kind of a marquee celebrity aspect to the team. i think it is tremendous and derek will be a great owner like he was a great champion appear for you in the yankees. neil: guys, thank you very much. we will have more after this. deter jeter is not going to be a baseball team owner. we will have more after
neil: letting you know again, charlie gasparino protect this, major league baseball owners unanimously approved derek jeter's bid for the miami marlins. he was working with a well-healed group to do so and apparently he gotç it. derek jeter will be a team owner. trish regan, to you. trish: thank you, neil cavuto. possible changes to the tax code for your benefit this year. top republican lawmakers will reveal their plan which president trump says it will be fair, simple and help the middle class. i will tell you this. it is time to stop redistribution of wealth, give it back to hard-working americans that earned that money in the first place. i'm trish regan. welcome, everybody, to "the intelligence report." the obam[ationni believes you can tax your way to prosperity. government needs more more any? take more small business